Dallas-based Blockbuster, which filed for Chapter 11 bankruptcy in September (see “Blockbuster Files Chapter 11”), has asked the court to give the troubled video rental giant more time to file a reorganization plan that will demonstrate how the debt-ridden corporation can emerge from Chapter 11.  In its request for a third extension of the date for filing the plan, Blockbuster indicated that it should be able to outline a path to a viable financial future on January 15th.

Blockbuster, which recently announced the imminent shuttering of 182 additional stores (see “Blockbuster Closing 182 Stores”), wants more time to work on its plans and refine the “footprint” of a leaner, more-focused reorganized company.  According to Home Media Magazine, the size of the company, which had until recently over 2,800 outlets, and the complexity of its many leasing agreements have made the creation of a reorganization plan more difficult and time consuming than originally thought.